The CZ 550 Varmint is a bolt-action rifle chambered in .22-250 Rem. and .308 Win. It is distinct among the CZ 550 series for having a heavy barrel, which is meant to reduce recoil and therefore add accuracy. The gun comes with walnut, laminate and Kevlar stock variations, each equipped with a four-round detachable magazine. As with any varmint rifle, CZ recommends the 550 Varmint for hunting small game such as coyotes, wolves, squirrels, and rabbits.

The 550 Varmint features 25.6" hammer-forged blued barrel. The gun does not feature sights, but has integrated 19mm scope bases cut into the receiver. The rifle has an adjustable single-set trigger. The safety system is composed of a two position manual safety, a firing pin block and a bolt lock.